Government in consonance with principle of growth: Prime Minister
Prime Minister Syed Yusuf Raza Gilani on Sunday said that his government was in consonance with the principle of growth and the only prescription to survive in the existing tough competition was to become more competitive, quality conscious and innovative more... (BR)

Oil price hedging plan in doldrums
The government's oil price hedging plan is reportedly in doldrums as most of the international commercial banks, with the exception of Deutsche Bank and BNP Paribas, have shown no interest in becoming consultants as offered by Finance Ministry, sources in Finance Ministry told Business Recorder more...

Govt plans 26pc stake sale in HBFC
Finance Minister Shaukat Tarin has said that the House Building Finance Corporation (HBFC) has gone bankrupt and become redundant, adding that 26 per cent shares of the corporation will be privatized soon more... (D)

Nawaz meets Saudi King
Pakistan Muslim League-N Chief Nawaz Sharif had a meeting with Saudi King Shah Abdullah Bin Abdul Aziz and discussed in detail matters relating to the region including Pakistan. The meeting held in King's guesthouse Qasr al Safa and lasted for one hour. Chief of Saudi intelligence Shahzada Mukran Bin Abdul Aziz, PML-N leader Ishaq Dar and Hussain Nawaz, son of Nawaz Sharif were also present in the meeting more... (BR)

Government noose tightening around Fazlullah neck
Inter Services Public Relations (ISPR) Director General Major General Athar Abbas on Sunday said security forces have traced various hideouts of Maulvi Fazlullah, Chief of Swat Taliban, and operation was going on for his arrest more... (FD)

Bin Laden says US support for Israel prompted 9/11
‘If you think about your situation well, you will know that the White House is occupied by pressure groups,’ he said more... (D)

Production from Nashpa oil well rose to 7000 bbl per day: OGDC
There has been a significant find in oil and gas near Kohat by Oil & Gas Development Company Limited. Production from Nashpa oil well has increased to 7000 bbl per day in addition to 25.7 million cubic feet of gas per day more... (BR)

PSO receivables amount to Rs 90 billion against Rs 58 billion dues: managing director
Total receivables of Pakistan State Oil (PSO) have increased to Rs 90 billion from IPPs and some other institutions. The company has to pay over Rs 58 billion to refineries and some other companies, according to Irfan Qureshi, Managing Director of PSO. He said this while briefingmedia at Iftar-dinner hosted by PSO here on Friday more... (BR)

Nepra refuses to approve tariff: three IPPs selected on ICB basis
The National Electric Power Regulatory Authority (Nepra) has reportedly refused to approve tariff of three independent power producers (IPPs), selected on the basis of International Competitive Bidding (ICB) being promoted by the Private Power Infrastructure Board (PPIB), well-informed sources told Business Recorder on Friday more... (BR)

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